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NEWMONT
46.410 (c) USD
-3.33% 
valeur indicative 41.555 EUR

US6516391066 NEM

NYSE données temps différé
  • ouverture

    47.510

  • clôture veille

    48.010

  • + haut

    48.869

  • + bas

    45.710

  • volume

    0

  • valorisation

    37 489 MUSD

  • capital échangé

    0.00%

  • dernier échange

    27.03.20 / 21:00:00

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    41.040

  • limite à la hausse

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    0.000

  • rendement estimé 2020

    2.33%

  • PER estimé 2020

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    20.69

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    -

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Retour au sujet NEWMONT MINING CORP INC NEW

NEWMONT : NEM: Perspectives 2007 sont plombées...

odyssee4
28 avr. 200712:05

---> attendre 2008 pour ce titre...

A LIRE :

NEVADA OPERATING COSTS UP 25%
Newmont’s production and cost woes to continue until 2H07
Newmont’s troubled Phoenix mine continues to disappoint analysts, while a $26/oz increase in operating costs at the mega-gold miner’s Australian and New Zealand operations generated by a stronger Australian dollar is also affecting earnings.

Author: Dorothy Kosich
Posted: Friday , 27 Apr 2007

RENO, NV -

Newmont's production and operating cost woes continued into the first quarter this year as Nevada's Phoenix project experienced lower than expected ore grades and costs soared at its Australia and New Zealand division.

In a conference call with analysts Thursday, Newmont Chairman and CEO Wayne Murdy announced the promotion of CFO Richard O'Brien to the position of president.

Despite production setbacks, Murdy said Newmont stands by its 2007 guidance of between 5.2 million to 5.6 million equity ounces of gold sales, copper sales of between 210 million to 230 million equity pounds. Newmont also anticipates cash costs ranging from $375 to $400 per ounce.

The costs of Nevada operating increased 25% from the prior year quarter from $393 to $493 per ounce. A major factor in the cost increase were the problems of the Phoenix gold-copper mine, which experienced lower than expected ore grades, tailings line restrictions, harder than anticipated ore, and lower mill availability. During the first quarter, Newmont's Nevada operations average milled ore grade decreased by 28% due to the processing of lower grade ore from Phoenix.

In response to questions by Citigroup metals analyst John Hill, Newmont Senior Vice President of Operations, Tom Enos, said that a new model for Phoenix is now being designed.

Stripping costs also increased due to accelerated mining at Pete, Gold Quarry and Twin Creeks. Labor and input costs continued to impact overall operating costs.

A stronger Australian dollar increased operating costs for Australia/New Zealand operations by $26/oz over the prior year quarter. Overall cost per ounce rose from $384 to $519.

Meanwhile in Indonesia, total cost rose by $76 million due to an increased in waste material and the processing of stockpiled ore.

Newmont's troubles were offset by the Ahafo, Ghana, gold mine, which yielded higher than expected mill grades and production. Lower than anticipated power generation charges lowered Ahafo's anticipated operating costs to $341/oz.

Murdy told analysts that the second quarter "will also be challenging," adding that the second half of this year will have a positive impact on Newmont's financials.

Senior Vice President of Exploration Stephen Enders told analysts the company has budgeted from $170 million to $175 million for this year with 55% focused on near-mine activity, 20% on greenfields initiatives with the remaining 25% split between follow-up opportunity funds and technical support.

Exploration spending in North America is targeted on near mine programs with $37 million allocated for 2007. Newmont will spend $34 million in South American exploration programs include a near-mine program at Yanacocha in Peru, as well as greenfields projects in the Guyana Shield and in the Andes in Peru. Exploration spending in Africa is expected to be $18 million. Exploration spending for the full year is anticipated to be $24 million in Australia and New Zealand.

FINANCIAL

Newmont reported a net income for the first quarter of 2007 of $68 million or 15-cents per share, a substantial decline from a year ago when net income was $209 million or 47-cents per share.

The company's revolving credit facility has been increased to $2 billion.

http://www.mineweb.net/mineweb/view/mineweb/en/page34?oid=20166&sn=Detail

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  • odyssee4
    27 septembre 200718:40

    DOW JONES NEWSWIRES


    Newmont Mining Corp. (NEM) said Wednesday costs applicable to sales for this year could top the gold producer's previous outlook of $375 to $400 per ounce.

    In a securities filing that contained information from an investor presentation, the gold mining company also said it may have trouble finding new reserves to make up for levels it is mining since its mines are getting older, with the best quality ores already tapped.

    "The large-scale, mature and low grade nature of its gold deposits may limit its ability to replace, net of depletion, its proven and probable gold reserves in 2007," it said.

    -Laura Mandaro; 415-439-6400; AskNewswires@dowjones.com


    Order free Annual Report for Newmont Mining Corporation

    Visit http://djnewswires.ar.wilink.com/?link=NEM or call 1-888-301-0513

    (END) Dow Jones Newswires

    09-26-07 1047ET

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